Home / Knowledge / News / Textiles / Automotive fabric biz of Toyota Boshoku to be split out
Automotive fabric biz of Toyota Boshoku to be split out
27
Apr '09
Toyota Boshoku Corporation, Kawashima Selkon Textiles Co Ltd and Toyota Tsusho Corporation will enter into discussions to consider merger of their businesses with the objective of becoming the world's leading company of fabrics for automobiles, trains, aircrafts etc. (hereinafter "automotive fabrics business").

1.Objective of the Business Merger
The automotive fabrics industry is anticipated to become increasingly competitive due to the effects of further globalization and the push towards improved functionality and design.

In response to these market conditions, the companies have decided to begin consideration of a merger of their businesses so as to strengthen their global expansion efforts and increase their competitiveness, utilizing respective advantages, with the aim of

1) Strengthening the sales, development and production bases by cooperating to achieve synergic effects across areas of technological expertise, customer base, business field and geographical region, and achieving improved efficiency through integrated process of operation, and
2) establishing fabric development and production system capable of creating both cutting edge designs and highly functional fabrics that not only reflect the particular requirements of the whole car interior spaces but which also take into account environmental and health concerns.

2.Method of the Business Merger
The automotive fabric businesses of Toyota Boshoku, Kawashima Selkon Textiles and Toyota Tsusho are to be split out, and all the three businesses are to be integrated.

The specific details of the arrangement will be decided amongst the three companies in the upcoming future.

3.Schedule for the Business Merger
Execution of Memorandum of Understanding: Mid June 2009 (scheduled)

Merger of the relevant businesses: April 2010 (scheduled)

The specific schedule is to be decided amongst the three companies in the upcoming future.

Toyota Tsusho has been growing steadily together with the automotive business as the main axis. Tomen also has been developed with a wide range of business and customers in non-automotive field. Two companies merged on April 1,2006, and started as newborn Toyota Tsusho Corporation.

Toyota Tsusho Corporation

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search